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Refer to the financial statements of The Home Depot in Appendix A. (Note: Fiscal 2016...

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Accounting

Refer to the financial statements of The Home Depot in Appendix A. (Note: Fiscal 2016 for The Home Depot runs from February 1, 2016, to January 29, 2017. Required:

What amount of Net Sales does the company report during the year ended January 29, 2017?

a. $32,313

b. $62,282

c. $7,957

d. $94,595

Assuming that Cost of Sales is the companys term for Cost of Goods Sold, compute the companys gross profit percentage for fiscal 2016 and the year immediately prior to that.

a. 34.2% and 34.2%

b. 34.8% and 32.8%

c. 34.1% and 34.2%

d. 65.8% and 65.8%

Assume that The Home Depot experienced no shrinkage in the most current year. Using the balance sheet and income statement, estimate the amount of purchases in the year ended January 29, 2017.

a. $63,022

b. $74,091

c. $62,282

d. $74,831

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